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Alt-A Loans

Bank Statement Income - Self-Employed

Available only in Texas

Asset-Based Home Lending

Buyers: We offer alternate source-of-income financing for those that cannot presently qualify for a conventional type loan (including Foreign Nationals). We are the lender at the closing table that will fund a loan when others will not. The interest rates are higher than conventional loans but are within Dodd-Frank guidelines (not hard money). This program is designed for buyers who have substantial down payment funds but have obstacles to their credit or income that cannot be overcome at this time to qualify conventionally (for instance: Self-Employed buyers). Most borrowers look at our loans as "bridge" loans until they have cured the difficulty in obtaining a conventional loan and can refinance at that time. Following are some of the features of our loans:

*A fixed interest rate, fully amortized loan to purchase or refinance the property
* No pre-payment penalty (refinance when you are ready)*Non-Bank credit qualifying (we look at your equity)
*Must have income, but job changes, self-employment and employment "gaps" are acceptable
*20-30 year terms (or less if preferred)
*Maximum debt ratio per ability to repay standard
*No Balloon payments
*Escrows for Taxes and Insurance required -for the first 5 years
*No mortgage insurance (PMI)
*Up to 80% loan based upon appraised value or sales price whichever is lower (appraisal required) **** See below
* Closing funds must be seasoned and from Borrowers account or sale of a prior home*Property must be "move-in" ready
*Property inspection required (by a licensed inspector)
*Seller may pay closing costs (no max)
*We report to a credit agency so that your credit score/rating can improve